• Fri. Mar 1st, 2024

Jeff Bezos Sells $2 Billion in Amazon Stock as Fortune Continues to Soar


Feb 11, 2024
Jeff Bezos offloads $2 billion worth of Amazon shares

Jeff Bezos recently sold 12 million shares of Amazon.com Inc., marking the first time he has sold the company’s stock since 2021. The transactions took place on Wednesday and Thursday, resulting in over $2 billion in net earnings, according to a filing. This comes amid a surge in Amazon’s stock price that has positioned Bezos as a contender for the title of the world’s richest person.

In a disclosure on February 2nd, Amazon revealed that Bezos intends to sell up to 50 million shares of the company over the next 12 months. This potential sell-off comes as Bezos’ fortune has increased by $22.6 billion this year, reaching $199.5 billion, according to the Bloomberg Billionaires Index.

Bezos has a history of selling Amazon shares, with records going back to 2002. He has sold over $30 billion worth of shares, including approximately $20 billion combined in 2020 and 2021. Along with selling shares, Bezos has also donated stock, with approximately $230 million worth of shares being given to nonprofit organizations in November.

Amazon declined to comment on Bezos’ recent sales through a spokesperson. To stay updated on how AI is shaping the future of business, readers can subscribe to the Eye on AI newsletter for free.

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